Starbucks Posts Q3 FY2026 Growth, Expands Margin, and Updates Outlook
Starbucks reported Q3 FY2026 results with consolidated net revenues of $9.32 billion (down 1% YoY) but global comparable store sales rose 7.9%, led by North America (+8.1%). Margins improved, with GAAP EPS of $0.91 and non-GAAP EPS of $0.85, as tariff refunds and cost discipline supported operating margin gains. The company completed tender offers using proceeds from the China sale and topped up its fiscal 2026 guidance: consolidated net revenues expected to be flat to slightly up, full-year non-GAAP EPS of $2.55–$2.65, and 600–650 net new stores globally, with US comp sales growth above 6% and global comp growth near 6%. Starbucks also highlighted progress on its Back to Starbucks plan, partnerships, and ongoing investments, and declared a quarterly dividend of $0.62 per share.